San Diego Business Journal

Developer Gets $45M in Financing for East Village Apartments

Wednesday, November 7, 2012

Holland Partners Group Management Inc. has obtained $45 million in construction and related financing for 15th and Market, a mixed-use apartment community to be built in downtown San Diego’s East Village.

The financing was arranged by the San Diego office of capital services firm Holliday Fenoglio Fowler LP, also known as HFF. An HFF statement said the company placed the construction loan and a 10-year permanent loan with one of its correspondent life insurance companies.

Set for completion in 2015, the 243,000-square-foot 15th and Market will include 242 housing units and approximately 10,000 square feet of ground-floor retail on a 1.4-acre site.

Holland Partners is based in Vancouver, Wash., with Southern California regional operations in Long Beach. The company develops and invests primarily in properties in the western United States.

— SDBJ Staff Report